Third Point LLC Purchases 2,847,924 Shares of Soho House & Co Inc. $SHCO

Key Points

• Third Point LLC increased its stake in Soho House & Co Inc. by 121.1%, owning 5.2 million shares valued at approximately $32.1 million after the purchase of nearly 2.85 million additional shares.
• Analysts have mixed ratings on the stock, with one analyst issuing a Strong Buy rating and Zacks Research upgrading the stock to a "strong-buy," while Roth Capital downgraded it to "hold."
• Soho House reported a quarterly earnings per share of $0.13, exceeding expectations, with total revenue for the quarter at $329.8 million, compared to the anticipated $316.79 million.

Third Point LLC grew its position in shares of Soho House & Co Inc. (NYSE:SHCO - Free Report) by 121.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,200,000 shares of the company's stock after purchasing an additional 2,847,924 shares during the quarter. Third Point LLC owned approximately 2.67% of Soho House & Co Inc. worth $32,136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SHCO. TIG Advisors LLC lifted its stake in shares of Soho House & Co Inc. by 19.2% in the first quarter. TIG Advisors LLC now owns 1,183,571 shares of the company's stock worth $7,314,000 after acquiring an additional 191,017 shares during the period. Groupe la Francaise acquired a new position in shares of Soho House & Co Inc. in the first quarter worth approximately $1,192,000. Algert Global LLC lifted its stake in shares of Soho House & Co Inc. by 41.4% in the first quarter. Algert Global LLC now owns 173,631 shares of the company's stock worth $1,073,000 after acquiring an additional 50,820 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Soho House & Co Inc. by 53.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,416 shares of the company's stock worth $1,083,000 after acquiring an additional 50,723 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Soho House & Co Inc. by 5.9% in the fourth quarter. Northern Trust Corp now owns 106,355 shares of the company's stock worth $792,000 after acquiring an additional 5,899 shares during the period. 62.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHCO. Roth Capital lowered Soho House & Co Inc. from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Zacks Research raised Soho House & Co Inc. to a "strong-buy" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Soho House & Co Inc. presently has an average rating of "Buy" and a consensus price target of $9.00.

Insiders Place Their Bets

In other Soho House & Co Inc. news, CEO Andrew Carnie sold 100,000 shares of Soho House & Co Inc. stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $6.38, for a total value of $638,000.00. Following the completion of the sale, the chief executive officer directly owned 1,103,975 shares in the company, valued at approximately $7,043,360.50. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 74.70% of the company's stock.

Soho House & Co Inc. Trading Up 0.1%

SHCO stock traded up $0.01 during mid-day trading on Friday, reaching $8.86. The company's stock had a trading volume of 80,128 shares, compared to its average volume of 600,284. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -29.52 and a beta of 0.69. The business's 50 day moving average price is $7.65 and its 200 day moving average price is $6.78. Soho House & Co Inc. has a 12 month low of $4.60 and a 12 month high of $8.92.

Soho House & Co Inc. (NYSE:SHCO - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.21. The business had revenue of $329.80 million during the quarter, compared to the consensus estimate of $316.79 million. Soho House & Co Inc. had a negative return on equity of 4.02% and a negative net margin of 4.67%. As a group, equities analysts expect that Soho House & Co Inc. will post -0.43 EPS for the current fiscal year.

About Soho House & Co Inc.

Soho House & Co, Inc is a holding company, which offers global membership platform of physical and digital spaces. It operates through the following segments: UK, North America, Europe and Rest of the World, and All Other. The company was founded by Nicholas Keith Arthur Jones in 1995 and is headquartered in London, the United Kingdom.